TON Launch to be Postponed to 30.04.2020

Investors, that are not happy with this fact, may receive 77% of their investments
17 October 2019   624

Telegram is ready to postpone the launch of the Telegram Open Network (TON) blockchain platform and suspend all operations with the Gram digital currency. At the same time, the company intends to challenge the lawsuit of the US Securities and Exchange Commission (SEC). The lawyers of Telegram notified the court of the Southern District of New York.

We had intended to launch the TON network in late October. However, the recent SEC lawsuit has made that timing unachievable. We disagree with the SEC’s legal position and intend to vigorously defend the lawsuit. We are proposing to extend the deadline date in order to provide additional time to resolve the SEC’s lawsuit and work with other governmental authorities in advance of the launch of the TON network.
 

TON Team

At the same time, CoinDesk reports that the project investors received a letter with information about the proposed transfer of the TON launch from late October to April 30 next year.

At the same time, the company must approve the decision on the transfer with investors. Each of the groups of investors who bought Gram tokens during two rounds of ICO will have to approve it separately.

Investors of the second round are invited to fill out the appropriate form before October 23. If the majority refuses to sign, they will be returned “about 77%” of the investment. It is reported that investors of the first round received a separate letter.

In the event that the majority still approves the launch transfer, Telegram plans to send another $ 80 million for the development of TON.

Dutch Crypto Startup Founder Busted

Komodore64 said they developed blockchain games and sold $86 000 000 worth K64 tokens, but investors don't receive any profit
13 November 2019   216

Dutch police arrested the founder of blockchain startup Komodore64, who allegedly raised $ 86 million from private investors. The company has already filed for bankruptcy, and investors and employees accuse it of fraud, according to Sprout.

Komodore64 developed blockchain games and invited investors to invest in the K64 native token. One of the investors, the newspaper writes, lost 600 thousand euros. As soon as partners and employees publicly stated that they had not received the promised fees, the company filed for bankruptcy.

Founder Sam Narain allegedly convinced investors that the startup supported the banking giant Goldman Sachs, but a group of bank representatives at one of the meetings turned out to be fraudulent.

In recent weeks, Narain has been living in the Hague Hilton, where he was hiding from angry investors. The names of his possible accomplices are still unknown, as is the fate of money.

Employees claim that only a party in honor of the launch of the project cost tens of thousands of euros.